Strategy Leaves Bitcoin Holdings Unchanged As Price Rises

Strategy (NASDAQ: $MSTR) left its Bitcoin (CRYPTO: $BTC) holdings unchanged over the past week as the price of the largest cryptocurrency rose more than 20%. 

The company sold 18.26 million shares of its common stock, increased its cash reserves to $5.1 billion U.S., and repurchased $136.4 million of its preferred stock (NASDAQ: $STRC).

However, Strategy did not buy or sell any Bitcoin in the last week as the price jumped 24% from $63,000 U.S. to above $78,000 U.S. 

Strategy, led by Chairman Michael Saylor, raised $2 billion U.S. from the sale of its common stock in recent days.

The company allocated much of the proceeds to a newly established liquidity pool it is calling "USD Cash."

Strategy held $5.1 billion U.S. in its cash reserves and $1.59 billion U.S. in the USD Cash account as of Aug. 23, giving the company total liquidity of $6.69 billion U.S.

The cash reserve remains focused on supporting dividend payments on Strategy's preferred stock, which yields 12%, and interest payments on the company's debt. 

The new USD Cash pool is to be used to acquire more Bitcoin, repurchase common or preferred stock, and meet other corporate purposes, said Strategy.

In a statement, Strategy said the new USD Cash pool will provide it with greater flexibility to respond to market conditions.

Strategy continues to own 840,447 Bitcoin valued at $66.4 billion U.S. 

The company's holdings were acquired at an average price of $75,385 U.S. per Bitcoin, placing them in profit with BTC trading at $78,950 U.S. on Aug. 24.